Market Wrap: Nifty soars over the 24,000 mark, with Nifty IT among the top gainers!

On Thursday, Benchmark indices concluded trading day on a positive note as Sensex significantly gained by 0.72 per cent and made a record high of 79,396.03 level, while Nifty surged by 0.74 per cent also made an all-time high of 24,087.45 level.

Market Update at 3:45 PM: On Thursday, Benchmark indices concluded trading day on a positive note as Sensex significantly gained by 0.72 per cent and made a record high of 79,396.03 level, while Nifty surged by 0.74 per cent also made an all-time high of 24,087.45 level. Whereas the Broader market experienced mixed performance as Nifty Midcap closed higher by 0.32 per cent, while Nifty Smallcap declined by 0.67 per cent.

Market volatility, as indicated by India VIX, has surged by 0.77 per cent and is trading around the level of 14 reflecting a slight increase in market volatility.

Within the sectoral landscape, Nifty IT, Nifty Energy and Nifty Auto were among the top gainers, while Nifty Media, Nifty PSU Bank and Nifty Pharma were among the top losers.

Ultratech Cement, LTIMindtree and Grasim Industries were among the top gainers while on the other hand Shriram Finance, L&T and Bajaj Auto were among the top losers.

About 807 stocks were advancing as against to 1490 that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:05 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading higher by 0.44 per cent, while Nifty soared by 0.4 per cent. Whereas, in the broader indices Nifty Midcap has declined by 0.24 per cent, while Nifty Smallcap has plunged by 0.83 per cent.

India VIX has surged by 2 per cent and is trading around the level of 14 indicating a slight increase in market volatility.

Within the sectoral landscape, Nifty IT, Nifty Energy and Nifty Financial Services are among the top gainers while Nifty PSU Bank, Nifty Media and Nifty Pharma are among the major sectors which are underperforming.

LTIMindtree, Grasim Industries and Wipro are among the top gainers while Shriram Finance, L&T and ONGC are among the top losing stocks from the Nifty 50.

About 696 stocks are advancing as against 1592 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade at their all-time high levels as Sensex has significantly surged by 0.53 per cent, while Nifty has gained by 0.52 per cent. Similarly in the broader indices Nifty Midcap has gained by 0.27 per cent, while Nifty Smallcap has declined by 0.08 per cent.

India VIX is has marginally surged by 2.58 per cent and is trading around the mark of 14 indicating a slight increase in market volatility.

European stocks are expected to open lower on Thursday, as global inflation worries continue to rattle markets. European futures DAX, CAC and FTSE trade higher by 0.02 per cent, 0.20 per cent and 0.02 per cent respectively.

Within the sectoral landscape Nifty IT, Nifty Energy and Nifty Financial Services are among the top gainers while Nifty PSU Bank, Nifty Realty and Nifty Auto are among the top losers.

Ultratech Cement, Wipro and Grasim Industries are among the top gainers within the Nifty 50 while, Maruti, L&T and Shriram Finance are among the top losers.

About 1041 stocks are advancing as against to 1228 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex trading higher by 0.26 per cent and making a new record high 79,033.91 level, while Nifty gained by 0.22 per cent and reached its all-time high level of 23,974.70. Similarly in the broader indices Nifty Midcap experience moderate gains of 0.37 per cent, while Nifty Smallcap has slightly gained by 0.02 per cent.

India VIX is has surged by 2.26 per cent and is trading above the mark of 14, indicating a slight increase in market volatility.

Within the sectoral landscape, Nifty FMCG, Nifty Energy and Nifty Metal are among the top gainers while Auto, Nifty PSU Bank and Nifty Realty are among the top losers.

Top gainers in individual stocks are Ultratech Cement, Dr Reddy’s laboratories and Grasim whereas Shriram Finance, Maruti and Bajaj Auto are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1086 stocks advancing compared to 1178 stocks declining.

Market Update at 9:40 AM: On Thursday, Indian markets opened on a weak note, with Nifty and Sensex experiencing slight declines, while broader indices outperformed. Nifty Media emerged as a top gainer, whereas Nifty IT saw the largest losses.

The Sensex is down by 0.06 per cent, and the Nifty is also slightly lower by 0.06%. In contrast, the broader indices showed gains, with the Nifty Midcap up by 0.47 per cent and the Nifty Smallcap surging by 0.34 per cent.

India VIX has slightly gained by 0.05 per cent and is trading above the mark of 14, indicating marginal increase in market volatility.

Within the sectoral landscape Nifty Metal, Nifty Media and Nifty Realty were among the top gainers while Nifty IT, Nifty Auto and Nifty Bank were the major sectors which are trading negatively.

Ultratech Cement, Grasim and Dr Reddy’s Laboratories are among the top gainers within the Nifty 50 while M&M, Tech Mahindra and HCL Technologies are among the top losers.

About 1377 stocks are advancing as against to 800 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:25 AM: Major US stock indexes ended Wednesday with modest gains after a volatile trading day, as investors exercised caution ahead of a presidential debate and a critical inflation report.

The Dow Jones Industrial Average inched up 16.10 points (0.04 per cent) to 39,128.26, the S&P 500 rose 8.61 points (0.16 per cent) to 5,477.91, and the Nasdaq Composite climbed 87.50 points (0.49 per cent) to 17,805.16.

On Thursday morning, the US 10-year yield was up 14 basis points at 4.33 per cent, while the 2-year Treasury yield remained unchanged at 4.74 per cent.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a slight gain of 0.05 per cent or 11 points. Nifty futures are currently trading near the 23,968.45 mark.

Oil prices declined in early Asian trading on Thursday, driven by concerns over a surprise increase in U.S. stockpiles indicating potentially weak demand from the largest oil consumer. However, fears of potential supply disruptions due to the expansion of the Gaza conflict limited the extent of the price drop.

Brent crude oil futures fell by 30 cents, or 0.4 per cent, to USD 84.17 per barrel, while U.S. West Texas Intermediate crude futures decreased by 32 cents, or 0.4 per cent, to USD 80.58 per barrel.

On June 26, 2024, foreign institutional investors (FII) offloaded shares worth Rs 3,535.43 crore, while domestic institutional investors (DII) bought shares worth Rs 5,103.67 crore.

Stocks that are banned for trading in the F&O segment on June 27, 2024, are GNFC, INDIACEM, INDUSTOWER, PNB and SAIL.